* Q1 EPS $0.20 vs est $0.17
* Q1 rev $51 mln, up 77 pct
* Sees Q2 rev $56-$62 mln vs est $58.3 mln
* Sees FY 2010 rev $250-$270 mln vs est $245.6 mln
* Shares rise 18 pct
May 12 Chinese mobile phone maker Zoom
Technologies Inc ZOOM.O posted better-than-expected
first-quarter results, helped by strong demand for its branded
phones, and the company raised its full-year outlook.
Shares of the company rose 18 percent in early morning
The company now expects full-year 2010 revenue of $250
million to $270 million, up from its prior view of $240 million
and $260 million. Analysts on average were looking for revenue
of $245.6 million, according to Thomson Reuters I/B/E/S.
"We will continue to focus on our mobile manufacturing
business in 2010, as the market opportunity in China is in high
demand," Chief Executive Lei Gu said in a statement.
Net income for the first quarter was $1.90 million, or 20
cents a share, compared with $891,332, or 45 cents a share,
Revenue jumped 77 percent to $51 million as the company saw
a rise in orders from domestic electronics manufacturing
service customers and strong sales of its LEIMONE branded
Analysts on average expected earnings of 17 cents a share,
excluding special items, on revenue of $40.2 million.
Zoom shares were up 76 cents, or 12 percent, at $7.10 in
early morning trade Wednesday on Nasdaq. They touched a high of
$7.50 earlier in the session.
(Reporting by Saqib Iqbal Ahmed in Bangalore; Editing by Ratul